Corpay, Inc. (NYSE:CPAY) Shares Sold by Leith Wheeler Investment Counsel Ltd.

Leith Wheeler Investment Counsel Ltd. trimmed its holdings in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 3.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,865 shares of the company's stock after selling 1,824 shares during the quarter. Corpay accounts for about 1.2% of Leith Wheeler Investment Counsel Ltd.'s portfolio, making the stock its 19th largest position. Leith Wheeler Investment Counsel Ltd. owned approximately 0.07% of Corpay worth $17,214,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB purchased a new position in Corpay in the 3rd quarter worth $364,000. Tidal Investments LLC lifted its holdings in shares of Corpay by 1.5% during the third quarter. Tidal Investments LLC now owns 4,641 shares of the company's stock worth $1,452,000 after purchasing an additional 68 shares during the period. Peapack Gladstone Financial Corp boosted its position in Corpay by 0.3% in the third quarter. Peapack Gladstone Financial Corp now owns 40,416 shares of the company's stock valued at $12,640,000 after buying an additional 113 shares during the last quarter. American Trust purchased a new position in Corpay during the 3rd quarter worth approximately $719,000. Finally, Principal Financial Group Inc. lifted its stake in Corpay by 2.6% during the 3rd quarter. Principal Financial Group Inc. now owns 86,539 shares of the company's stock valued at $27,066,000 after acquiring an additional 2,175 shares during the period. 98.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Richard Macchia sold 2,427 shares of the business's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $375.23, for a total value of $910,683.21. Following the completion of the transaction, the director now owns 12,215 shares of the company's stock, valued at approximately $4,583,434.45. The trade was a 16.58 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CPAY shares. Royal Bank of Canada increased their price objective on shares of Corpay from $354.00 to $400.00 and gave the stock a "sector perform" rating in a research note on Thursday, February 6th. Wolfe Research upgraded Corpay from a "peer perform" rating to an "outperform" rating and set a $420.00 price objective for the company in a research note on Wednesday, January 8th. Wells Fargo & Company lowered their target price on Corpay from $375.00 to $339.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Barclays reduced their price target on Corpay from $440.00 to $400.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Finally, Oppenheimer began coverage on shares of Corpay in a research note on Monday. They set a "market perform" rating on the stock. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $397.62.

Corpay Stock Performance

CPAY stock traded down $2.71 during trading on Thursday, hitting $322.66. The company had a trading volume of 405,577 shares, compared to its average volume of 485,888. The firm has a 50-day moving average price of $331.29 and a 200-day moving average price of $350.79. The company has a quick ratio of 1.05, a current ratio of 1.00 and a debt-to-equity ratio of 1.66. The firm has a market cap of $22.67 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.32 and a beta of 1.11. Corpay, Inc. has a 1-year low of $247.10 and a 1-year high of $400.81.

Corpay (NYSE:CPAY - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $4.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.37 by ($0.41). Corpay had a return on equity of 41.46% and a net margin of 25.25%. On average, analysts expect that Corpay, Inc. will post 19.76 earnings per share for the current year.

About Corpay

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.